Data-Driven Business Model Innovation for 6G

Abstract

Futuristic disruptive technologies like 6G, could further transform the way we live and work, beyond what was enabled by 5G. The expected features could enable massive high-speed and low-latency connectivity across diverse devices giving rise to new applications enabling instant availability of data related to Smart Cities, Industries 4.0, Intelligent Transport Systems, Utilities, Healthcare, Security, Media & Entertainment, etc. They will further make it possible to scale current real-time data collection strategies, adding more devices without the need for wired connections or fear of interference. Data is considered as the new oil due to tremendous possibilities it can bring in the business world through predictive and prescriptive analytics. This gives rise to the importance of data-driven business model innovation to provide actionable insights to the business owners, helping them to develop sustainable business models. Organizations using big data and analytics within their innovation process are more likely to remain competitive and sustainable. This paper discusses the importance of harnessing “Real-time Data” to create value, the challenges in harnessing value from data especially “dark data,” the role of “Data-driven Business Model Innovation” in creating sustainable business and Intelligent Transport System Data-driven Business Model Innovation as an example.